The invention relates to a thermal management system of a power battery, and belongs to a component of a battery management system. The thermal management system of the power battery mainly consists of a battery box, a heat pipe, a liquid flow pipe, a liquid box, a semiconductor heating/refrigerating element, a liquid circulating pump, a battery control unit, a temperature sensor, a radiator and a fan. The radiator and the fan are installed outside the battery box, the battery box, the heat pipe, the liquid flow pipe, the liquid box, the semiconductor heating/refrigerating element, the liquid circulating pump, the battery control unit and the temperature sensor are installed in the battery box and organically combined with a battery module. The heat pipe is inserted into the battery module. The heat pipe is compactly attached to the battery module and the liquid flow plate above the battery module. The liquid flow plate is internally provided with a liquid circulating pipeline connected with the liquid circulating pump which is further connected with the liquid box filled with a circulating liquid. The semiconductor heating/refrigerating element is contacted with the liquid box and attached to the radiator. The battery box is further provided with the temperature sensor connected with battery control unit which controls the liquid circulating pump, the semiconductor heating/refrigerating element and the fan to work. The thermal management system of the power battery provided by the utility model is reasonable in structure and can quickly heat and cool.